NASPERS LIMITED - Cash Payment in Respect of Fractional Entitlements

Cash Payment in Respect of Fractional Entitlements

Naspers Limited
(Incorporated in the Republic of South Africa)
Registration number: 1925/001431/06
Share code: NPN
ISIN: ZAE000015889
(“Naspers” or the “Company”)

CASH PAYMENT IN RESPECT OF FRACTIONAL ENTITLEMENTS

1.   Introduction

Naspers “N” and “A” shareholders (“Naspers Shareholders”) are referred to the announcement released on SENS on
5 September 2017 (“Detailed Announcement”) in terms of which Naspers Shareholders were advised that the
Company will unbundle 151,786,287 Novus Holdings Limited (“Novus”) shares (“Unbundled Novus Shares”) to
Naspers Shareholders (“Unbundling”).

2.   Fractional entitlements

Naspers Shareholders are hereby advised of the following:

-    The Unbundled Novus Shares will be unbundled in the intended ratio of 0.34588 Novus shares for every one
     Naspers N share and 0.06918 Novus shares for every one Naspers A share held at the close of business on the
     Unbundling record date; and
-    The value applicable in determining the cash payment for the fractional entitlement is the weighted average traded
     price for the day after the last day to trade less 10% as prescribed by the JSE Limited, being 514 cents.

THIS ANNOUNCEMENT IS NOT INTENDED TO BE A COMPLETE ANALYSIS OF THE TAX IMPLICATIONS OF THE
UNBUNDLING. IT IS NOT INTENDED TO BE, NOR SHOULD IT BE CONSIDERED TO BE, LEGAL OR TAX ADVICE.
SHAREHOLDERS ARE ADVISED TO CONSULT THEIR OWN PROFESSIONAL TAX ADVISORS ON THE
TAXATION CONSEQUENCES OF THE UNBUNDLING IN BOTH SOUTH AFRICA AND THEIR JURISDICTION OF
RESIDENCE AND THE CALCULATION OF THEIR COSTS FOR TAXATION PURPOSES.

Cape Town
21 September 2017

Financial advisor and sponsor
Investec Bank Limited

Legal advisors
Glyn Marais Inc.
Werksmans Inc.

Tax advisors
PricewaterhouseCoopers Tax Services Proprietary Limited

Date: 21/09/2017 11:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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